European soccer governing body UEFA announced Thursday it would boycott FIFA competitions, including the World Cup, if the global organization moves forward with a proposal to sell a stake to private investors.
Following an emergency meeting, UEFA, which represents 55 of FIFA’s 211 member associations, characterized the initiative as “irresponsible and indefensible,” arguing that FIFA leadership failed to consult with member countries before advancing the proposal. UEFA stated that member nations would refuse to participate in any FIFA competition while the proposals remain in effect unless they are entirely abandoned and binding assurances are provided against future private ownership involvement in FIFA’s governance or competitions.
Earlier in the week, FIFA unveiled a plan to establish FIFA Forward Enterprise, a new entity that would assume all commercial and event operations. The organization indicated it would sell a 20% stake to third-party investors, potentially raising up to $4.2 billion. The initiative, championed by FIFA President Gianni Infantino, has generated significant criticism throughout the sporting community. Media reports noted that Thrive Eternal, a private equity firm founded by Joshua Kushner, brother of Trump son-in-law Jared Kushner, is expected to lead the investor group.
Other regional soccer bodies have also opposed the proposal. Concacaf, the governing body for soccer in North and Central America and the Caribbean, held its own emergency meeting Thursday with 41 member associations and rejected the plan, emphasizing the need for greater transparency and improved governance standards.
Responding to the opposition, Infantino released a video statement Wednesday reassuring supporters that the sport they follow would remain unchanged. He characterized the proposal as beneficial for global soccer development and emphasized that member associations would have discretion regarding participation rather than facing mandatory obligations.
Article Attribution | Read More at Article Source
Article summary produced by Claude AI